Lithium Is on the Rise Again. Does That Make Albemarle a Buy?
Albemarle's shares have been flat so far this year on falling lithium prices, but now the metal's price is rising, thanks to growing demand for battery storage for data centers.
Overview
Shares of Albemarle (NYSE: ALB) are flat so far this year, thanks to an oversupply of lithium and a flattened demand for electric vehicles (EVs) in the United States.
However, the long-term need for this critical metal is projected to increase 353% by the end of the decade, according to a report by the United Nations Conference on Trade and Development.
Details
Albemarle, the largest lithium miner in the world in terms of production, is in a good position to benefit from that trend.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.